...to take the leap from a secure and well-paid job and go for it and start up on my own?

[semi]

I've been 'on the cusp' of re-starting my life for some time now. Working for someone ese is driving me nuts, got a tons of baby/kids' ideas that I need the space (and time, I have a 2 year old) to develop. Have registered domain names, thought of logos, consider legal stuff, but am absolutely bricking it - and need reassurance that doing this mid recession isn't the craziest bonkers thing I've ever done!! any thoughts?!!!

[Tortington]

am thinking about it miself - only a cafe.

my thoughts are that if its internet related couldnt you keep your job?

i am going to ask if i can go part time ( if i get the go ahead from planning dept)

my p/t wage is fab and i can get free labour in teh cafe 2 days a week

[gingernutlover]

is there anyway you can do it part time to beginw ith to "test the waters"

[PuppyMonkey]

Presume you have also done lots and lots and lots and lots of market research to make sure your idea is viable????

My DP started his own business more than 20 years ago. It has good and bad points...

Good:
You're your own boss
You can set your own hours
You get most of the money (ish)
You do what the heck you want most of the time
Yoiu get a Costco card.

Bad:

No paid holiday
You actually end up working all the hours God sends so never see your family
if work dries up, you're stuffed
Pressure all the time to get new business
The tax man sends you a big bill every year after you have to spend hours and hours working out your tax.
You might have to employ people - nightmare.

Give me a nice safe 9-5, with a crap boss but paid holiday and lots of rights any day...

[noddyholder]

I have worked freelance for years but in a 'sure'capacity.Dp and I are thinking of starting a new business in the New Year the key is being able to give it your all according to all the research I have done and am doing.The first few years take all your time and energy and I think you need double the set up costs!But if you think there is a demand for what you are offering go for it.I have been considering this for years and have now spoken to about 30 other people and they have all said the same.Double your budget don't expect to earn much if anything yrs 1-2 and wave good bye to a social life.Exciting though.

[eclectech]

DP and I have been working for ourselves for over 10 years and it's fantastic. We're fortunate in that our work doesn't have a lot of expense, so there isn't the same amount of risk as some businesses, but we work very civilized hours and love our work (most of the time). It's fab.

Very occasionally we take on a deadline too many and end up working silly hours, but it's a small price to pay (and we've generally chosen to do it). First few years were busier, but now we can cherry pick the good projects and turn down the others.

If you can start up by having a part-time 'normal' job, it can minimise the financial concerns, as does having a few months basic living expenses in a bank account somewhere.

[milknosugarplease]

take the plunge! could me the maddest silliest crazyest thing you'll ever do...but could be the best and if you dont do it now when will you do it

doubt that was helpful but ive never been self emplyed!!

lots of luck

milk
xx

[piscesmoon]

Go for it! Life is for living-you can play safe and waste your best years.

[bigTillyMint]

Just looked at your profile and it sounds like you would be an ideal person to start up your own business - loads of experience to a high level and living in London.

Two good friends of mine started their own businesses and both are doing extremely well - both my friends were very competent and had lots of experience to a high level in their previous jobs, and live in places where there are lots of opportunities and potential customers, etc.

Do it - you only live once!

[semi]

wow - what amazing responses? all v supportive - so thanks. i think i've spent so much time on the net researching ideas, the next step is writing a business plan for each idea and then making a shortlist. i can't do it all, and will certainly need to engage with others to do it. i am not techie and need to find my techie alter ego....will try the site and see what that turns up - thanks everyone!!

[saintlydamemrsturnip]

There's lots of advice out there eg from business link. Worth investigating whether you can set up as a social enterprise as there is a lot of encouragement for that right now.

I entered a business competition a few years ago and won! It was a great way of getting some cash but best of all loads of really good advice and support. I didn't set up then as the timing was wrong but am planning to at the end of this year (with something else) and the advice has been really helpful.

[lovechoc]

I say go for it aswell. Now is as good a time as any. If you can succeed with a new business in the middle of a recession, just think of the power you will have when the economy returns to normal!!

DH is changing career completely and is going self-empoyed next year and I intend to go self-employed the year after so we can set up business together. There are risks, but that's what life is all about. Nothing ventured, nothing gained...

[fandango75]

Hi there - i will be doing the same (but we have decided to have baby number 2 whilst still in high level secure job) alas wrote business plan while on mat leave and have business mentor (a company MD friend of mine with over 25 years experience in the field) plus there are a few fab books re: how to write a business plan and effective business strategy (written simply which i found useful!)

Go for it!!!! All the very best